Bank of Montreal (TSE:BMO) Hits New 52-Week High After Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares hit a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from C$209.00 to C$234.00. Scotiabank currently has a sector outperform rating on the stock. Bank of Montreal traded as high as C$229.43 and last traded at C$225.18, with a volume of 2814835 shares trading hands. The stock had previously closed at C$223.93.

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada upped their price target on shares of Bank of Montreal from C$205.00 to C$230.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Jefferies Financial Group upped their price target on shares of Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Raymond James Financial upped their price target on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Desjardins upped their price target on shares of Bank of Montreal from C$212.00 to C$230.00 and gave the company a “hold” rating in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group upped their price target on shares of Bank of Montreal from C$224.00 to C$230.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$223.13.

Bank of Montreal Stock Performance

The business’s 50-day moving average price is C$204.52 and its 200 day moving average price is C$192.08. The stock has a market capitalization of C$158.73 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 EPS for the quarter. The firm had revenue of C$9.57 billion during the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. As a group, equities research analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Bank of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, April 29th. Bank of Montreal’s payout ratio is 50.69%.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.